300/292 N Meridian St · Rutherfordton, NC 28139

$168,000

2 bd · 1.0 ba · 702 sqft · SingleFamily public records · 10 Days on market

Built 1930 0.37 ac lot

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.0/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity! 2 houses side by side on same parcel close to Downtown Rutherfordton. 292 is 702 sq.ft. 2BR/1BA w/LR & kitchen, and has been redone. 300 is 710 sq.ft. w/the same floor plan as 292 (has been demoed & ready to be finished). Both houses upgraded to 200 amp service panels. Roofs were replaced by previous owner. 292 is a good example of what 300 can be once completed. Call for more details.

Key facts

• New roofs
• Tiled showers
• New windows

Tags

• 2 HOMES ON SAME PARCEL
• RESTORED INSIDE AND OUT
• NEW ROOFS
• TILED SHOWERS
• ALL APPLIANCES CONVEY
• NEW WINDOWS

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: On-street parking in front of each unit
• Security: Smoke detector(s)
• Utilities: City water; Public sewer; Electricity connected; Cable available
• Home design: Single family residence; One level; R2 zoning
• Construction: Site-built construction; Wood construction materials; Basement present (dirt floor, unfinished with storage space and walk-out access)
• Exterior features: Covered front porch; Second living quarters with separate entrance, separate kitchen facilities, separate utilities, and exterior access; Hilly, sloped lot; Publicly maintained paved road access

Interior

• Kitchen: Electric oven; Exhaust hood; Refrigerator
• Bedrooms: Main unit has 2 bedrooms; Second living quarters has 2 bedrooms
• Flooring: Carpet; Wood
• Bathrooms: Two full bathrooms (one in main unit, one in second living quarters)
• Heating & cooling: Ductless heating; Ductless cooling
• Interior features: Attic with additional space; Insulated windows; Smoke detector(s)
• Laundry & utility: Washer and dryer included; Laundry area located in the kitchen; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $168k.

Deal economics

• At list price, monthly cash flow is $420 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Cap rate 9.3% vs local median 3.0% in Rutherfordton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#67 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Rutherford County Schools (rural): math 43% / reading 44% proficiency, ranked #98 of 178 in NC (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Rutherfordton Elementary School (math 37% / reading 47%, grade F, #633 of 1,410 statewide, top 48%, 390 students, 99% FRL); R-S Central High School (math 62% / reading 42%, grade D+, #292 of 535 statewide, top 56%, 758 students, 100% FRL) — zoned schools average 99% FRL vs 60% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 312 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 193 units permitted in Rutherford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Rutherford County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $74k; list at $168k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $168,000

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.72%
• DSCR: 1.48
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-525
• Equity at exit: $25,049

10-year hold

• IRR: 9.3%
• Equity multiple: 1.72×
• Total profit: $33,753
• Equity at exit: $14,526

Cash invested: $47,040 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 28139

• Home prices YoY: -21.6%
• Active inventory: 312
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,820 medium
• Mortgage (P&I): −$881
• Tax from tax record: −$67 /mo · $800/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $420

Break-even live

Break-even rent $1,288

Max offer price $168,000

Occupancy floor 72%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $42,000
• Closing costs: $5,040
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 Central St Rutherfordton, NC	1.0	1.0	740	$1,820	$2.46	13d	1	0.45mi

Listing history 22 events

1. 2026-05-20
   status Pending
2. 2026-05-09
   listed $168,000 Active
3. 2023-03-15
   soldstatus $74,500
4. 2023-03-14
   soldstatus $74,500 Closed 426-char remark

   Show marketing remark (426 chars)

   Great investment opportunity! 2 houses side by side on same parcel close to Downtown Rutherfordton. 292 is 702 sq.ft. 2BR/1BA w/LR & kitchen, and has been redone. 300 is 710 sq.ft. w/the same floor plan as 292 (has been demoed & ready to be finished). Both houses upgraded to 200 amp service panels. Roofs were replaced by previous owner. 292 is a good example of what 300 can be once completed. Call for more details.

5. 2023-02-10
   status Pending

   Show marketing remark (426 chars)

   Great investment opportunity! 2 houses side by side on same parcel close to Downtown Rutherfordton. 292 is 702 sq.ft. 2BR/1BA w/LR & kitchen, and has been redone. 300 is 710 sq.ft. w/the same floor plan as 292 (has been demoed & ready to be finished). Both houses upgraded to 200 amp service panels. Roofs were replaced by previous owner. 292 is a good example of what 300 can be once completed. Call for more details.

6. 2023-02-10
   status Pending 426-char remark

   Show marketing remark (426 chars)

   Great investment opportunity! 2 houses side by side on same parcel close to Downtown Rutherfordton. 292 is 702 sq.ft. 2BR/1BA w/LR & kitchen, and has been redone. 300 is 710 sq.ft. w/the same floor plan as 292 (has been demoed & ready to be finished). Both houses upgraded to 200 amp service panels. Roofs were replaced by previous owner. 292 is a good example of what 300 can be once completed. Call for more details.

7. 2023-02-06
   status Active

   Show marketing remark (426 chars)

   Great investment opportunity! 2 houses side by side on same parcel close to Downtown Rutherfordton. 292 is 702 sq.ft. 2BR/1BA w/LR & kitchen, and has been redone. 300 is 710 sq.ft. w/the same floor plan as 292 (has been demoed & ready to be finished). Both houses upgraded to 200 amp service panels. Roofs were replaced by previous owner. 292 is a good example of what 300 can be once completed. Call for more details.

8. 2023-02-06
   status Active 426-char remark

   Show marketing remark (426 chars)

   Great investment opportunity! 2 houses side by side on same parcel close to Downtown Rutherfordton. 292 is 702 sq.ft. 2BR/1BA w/LR & kitchen, and has been redone. 300 is 710 sq.ft. w/the same floor plan as 292 (has been demoed & ready to be finished). Both houses upgraded to 200 amp service panels. Roofs were replaced by previous owner. 292 is a good example of what 300 can be once completed. Call for more details.

9. 2023-01-22
   status Pending 426-char remark

   Show marketing remark (426 chars)

   Great investment opportunity! 2 houses side by side on same parcel close to Downtown Rutherfordton. 292 is 702 sq.ft. 2BR/1BA w/LR & kitchen, and has been redone. 300 is 710 sq.ft. w/the same floor plan as 292 (has been demoed & ready to be finished). Both houses upgraded to 200 amp service panels. Roofs were replaced by previous owner. 292 is a good example of what 300 can be once completed. Call for more details.

10. 2023-01-22
    status Pending

    Show marketing remark (426 chars)

    Great investment opportunity! 2 houses side by side on same parcel close to Downtown Rutherfordton. 292 is 702 sq.ft. 2BR/1BA w/LR & kitchen, and has been redone. 300 is 710 sq.ft. w/the same floor plan as 292 (has been demoed & ready to be finished). Both houses upgraded to 200 amp service panels. Roofs were replaced by previous owner. 292 is a good example of what 300 can be once completed. Call for more details.

11. 2023-01-10
    price $89,900

    Show marketing remark (426 chars)

    Great investment opportunity! 2 houses side by side on same parcel close to Downtown Rutherfordton. 292 is 702 sq.ft. 2BR/1BA w/LR & kitchen, and has been redone. 300 is 710 sq.ft. w/the same floor plan as 292 (has been demoed & ready to be finished). Both houses upgraded to 200 amp service panels. Roofs were replaced by previous owner. 292 is a good example of what 300 can be once completed. Call for more details.

12. 2023-01-10
    status Active

    Show marketing remark (426 chars)

    Great investment opportunity! 2 houses side by side on same parcel close to Downtown Rutherfordton. 292 is 702 sq.ft. 2BR/1BA w/LR & kitchen, and has been redone. 300 is 710 sq.ft. w/the same floor plan as 292 (has been demoed & ready to be finished). Both houses upgraded to 200 amp service panels. Roofs were replaced by previous owner. 292 is a good example of what 300 can be once completed. Call for more details.

13. 2023-01-10
    listed $89,900 Active 426-char remark

    Show marketing remark (426 chars)

    Great investment opportunity! 2 houses side by side on same parcel close to Downtown Rutherfordton. 292 is 702 sq.ft. 2BR/1BA w/LR & kitchen, and has been redone. 300 is 710 sq.ft. w/the same floor plan as 292 (has been demoed & ready to be finished). Both houses upgraded to 200 amp service panels. Roofs were replaced by previous owner. 292 is a good example of what 300 can be once completed. Call for more details.

14. 2022-10-02
    price $99,900
15. 2022-09-19
    price $115,000
16. 2022-08-31
    price $139,900
17. 2022-08-18
    price $149,900
18. 2022-07-11
    listed $164,900 Active
19. 2022-07-10
    historical
20. 2021-03-23
    soldstatus $32,000 Closed
21. 2021-03-02
    historical Active Under Contract
22. 2021-02-26
    listed $45,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $800 · $67/mo
• Projected year-2 tax: $1,378 · $115/mo
• Expected delta: +$578/yr (+$48/mo · 72.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,840
• − Mortgage interest: −$9,411
• − Property taxes: −$800
• − Insurance: −$840
• − Repairs & maintenance: −$1,747
• − Management: −$1,747
• − Depreciation: −$4,887
• Taxable income: $2,408
• Est. tax owed @ 24.0%: −$578
• After-tax cash flow: $4,464/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Rutherford County Schools
• NCES district ID: 3704080
• Math proficiency: 43% ▼ -1.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $36,490
• Composite: 36.11/100
• National rank: #4753
• State rank: #98 of 178 in NC

Livability — Rutherfordton

• Score: 73/100
• State rank: #67
• US rank: #5114

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment D- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rutherfordton, NC
• Population (ZIP): 18,887

Population outlook (Rutherford County) Hauer SSP2

• Today (2025): 63,695 people
• By 2030: 61,670 · -3.2%
• By 2040: 57,212 · -10.2%
• By 2050: 52,763 · -17.2%
• By 2075: 44,493 · -30.1%
• By 2100: 38,127 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 6% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Serbian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Rutherford

• 2024 margin: Solid R (+47.8) · D 25.8% · R 73.6%
• 2008→2024 swing: -16.0pp toward R · 2008: -31.8pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+45.8 2016: R+47.9 2012: R+33.5 2008: R+31.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.65%
• Current HPI: 249.7007
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

+273.3% since first listed

22 events — show timeline

• 2026-05-20 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-09 Listed $168,000 CANOPYMLS as Distributed by MLS Grid
• 2023-03-15 Sold (Public Records) $74,500 Public Records
• 2023-03-14 Sold (MLS) $74,500 CANOPYMLS as Distributed by MLS Grid
• 2023-02-10 Pending — CANOPYMLS as Distributed by MLS Grid
• 2023-02-10 Pending — CANOPYMLS as Distributed by MLS Grid
• 2023-02-06 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2023-02-06 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2023-01-22 Pending — CANOPYMLS as Distributed by MLS Grid
• 2023-01-22 Pending — CANOPYMLS as Distributed by MLS Grid
• 2023-01-10 Price Changed $89,900 CANOPYMLS as Distributed by MLS Grid
• 2023-01-10 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2023-01-10 Listed $89,900 CANOPYMLS as Distributed by MLS Grid
• 2022-10-02 Price Changed $99,900 CANOPYMLS as Distributed by MLS Grid
• 2022-09-19 Price Changed $115,000 CANOPYMLS as Distributed by MLS Grid
• 2022-08-31 Price Changed $139,900 CANOPYMLS as Distributed by MLS Grid
• 2022-08-18 Price Changed $149,900 CANOPYMLS as Distributed by MLS Grid
• 2022-07-11 Listed $164,900 CANOPYMLS as Distributed by MLS Grid
• 2022-07-10 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2021-03-23 Sold (MLS) $32,000 CANOPYMLS as Distributed by MLS Grid
• 2021-03-02 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2021-02-26 Listed $45,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2025): $800 · +13.2% YoY. Source: county tax records.